Queensland Consolidated Acts

BUILDING INDUSTRY FAIRNESS (SECURITY OF PAYMENT) ACT 2017 - SECT 14A

14A Eligibility of contract for project trust when contract amended

(1) A contract does not cease to be eligible for a project trust because of an amendment of the contract.

(2) A contract that was not, at the time it was entered into, eligible for a project trust becomes eligible for a project trust on the amendment of the contract if—

(a) the contract is amended; and

(b) the contract would have been eligible for a project trust had it been in its amended form, including any earlier amendments, when it was entered into; and

(c) the amended contract—

(i) increases the original percentage of the contract price that is for project trust work by 30% or more; or

(ii) increases the original contract price by 30% or more.